State Bank of Travancore
State Bank of Travancore’s Educational Loan - Gyan Jyothi
Objective of the Scheme :
The scheme provides financial assistance to deserving meritorious students to pursue higher education in India and abroad
Eligibility of the Student :
- The student should be an Indian National
- The student Should have secured admission to professional \ technical courses through entrance test \ merit based selection process conducted by a Govt Agency / University
- The student Should have secured admission to foreign university institution on the basis of merit
Studies in India :
- Approved courses leading to graduate/ post graduate degree and P G diplomas conducted by recognized colleges / universities recognized by UGC / Govt. / AICTE /AIBMS / ICMR etc.
- Courses like ICWA, CA, CFA etc.
- Courses conducted by IIMs, IITs, IISc, XLRI. NIFT,NID etc.
- Regular Degree / Diploma courses like Aeronautical, pilot training, shipping, degree / diploma in nursing or any other discipline approved by Director General of Civil Aviation / Shipping / Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.
- Approved courses offered in India by reputed foreign universities
Studies over a Wide Area :
- Graduation: For job oriented professional / technical courses offered by reputed universities.
- Post graduation: MCA, MBA, MS, etc.
- Courses conducted by CIMA-London, CPA in USA etc.
- Degree / diploma courses like aeronautical, shipping etc provided these are recognized by competent regulatory bodies in India / abroad for the purpose of employment in India / abroad.
Liability of Finance :
Expenses allotted for the Loan :
- Tuition / Examination
- Library / Laboratory Fee,
- Cost of Books
- Purchase of Computers / Equipments / Instruments / Uniforms
- Cost of Passage for Studies Abroad.
- Caution Deposit
- Building Fund
Quantum of Finance :
For studies in India Rs. 10 lacs
For studies abroad Rs. 20 lacs
Upto Rs. 4 lacs - Nil
Above Rs.4 lacs - i) Studies in India - 5%
ii) Studies abroad -15%
Processing Fee / Mortgage Charges : NIL
No processing fee for studies in India.
For studies Abroad
- Upto Rs.4 lacs - 0.5%
- Above Rs.4 lacs - 0.4%( Refundable on a ailment of 1st installment )
Rate of Interest :
Existing loans linked to PLR
New loans sanctioned from 01.07.10 linked to SBT Base Rate
Upto Rs.4 lacs
0.75% below PLR
Above Rs.4 lacsto Rs. 7.25 lacs
Above Rs. 7.5 lacs
- 0.5 % concession for Girl student
- All Loans sanctioned on or after 01.07.2010 are linked to SBT Base Rate. Existing loans Sanctioned prior to 01.07.2010 are linked to SBT PLR
Repayment Period of the Loan :
To commence 1 year after completion of course or 6 months after getting job, whichever is earlier. The loan is to be repaid in 10-15 years after commencement of repayment.
For more Details, Kindly refer the following link :